FAQ

Q1: What are the benefits / advantages to debt counselling?

A: Sequestration and administration would be alternative options for over-indebted consumers.  Both of which is non beneficial to client as it is very expensive, client can lose all assets and have a tarnished credit record for as long as 9 years.  A benefit of Debt Counselling is that your assets are protected for as long as you under debt review. Therefore this route of managing your finances and getting back on track would be most beneficial for an over-indebted consumer.

Q2: What is debt review?

A: Debt review is where you are able to pay one amount each month to a National Payment Distributing agency who will then distribute your money according to the debt restructure plan set out by your debt counsellor. 

Q3: Why can’t I do restructure my own debt repayments?

A: You can by all means do your own restructuring, however as registered debt counsellors we have been trained to help you deal with difficult credit providers.   and while you under debt review.  Credit providers are more likely to negotiate a more affordable debt repayment with a registered debt counsellor opposed to a consumer.

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